Nvidia's (Nasdaq: NVDA) Quarter Was Bigger Than TSMC's Entire Year, Investors May Still Be Underpricing
Nvidia (Nasdaq: NVDA ) generated more revenue in a single quarter than the company that manufactures its chips generated in the whole of last year, a comparison that, financial advisory giantdeVere Group CEO Nigel Green says, puts the scale of the result into sharp focus.
Nvidia reported quarterly revenue of $96.2 billion, up 106% year on year, with Data Center revenue alone reaching $89 billion, up 117%.
To put that pace in context, a 106% increase means Nvidia's revenue has more than doubled in a single year, something almost never seen in a company already generating tens of billions of dollars every quarter.
The Data Center division alone, at $89 billion for the quarter, now generates more in three months than most global corporations generate in an entire year, and it grew even faster than the group as a whole.
Taiwan Semiconductor Manufacturing Company (TSMC), the firm that physically produces Nvidia's chips, generated $88.268 billion across the whole of 2024. Nvidia matched that in three months.
AdvertisementThe company also guided to third quarter revenue of $108 billion, ahead of the roughly $104 billion Wall Street had pencilled in, and gave a first ever year ahead forecast pointing to 70% revenue growth through fiscal 2028.
The deVere CEO argues the scale of that forecast deserves more attention than it is getting.
Perhaps the most striking admission in the entire report was about supply rather than demand. Nvidia indicated it could be growing even faster were it not constrained by how much hardware it can physically produce.
Nigel Green welcomes the market reaction, but questions whether it has gone far enough.
He points to the earlier volatility around the report as evidence investors are still processing the numbers in real time rather than settling on a clear view.
The broader question for investors appears to be less about one company and more about the AI infrastructure buildout it sits at the centre of.
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